Search results

Please enter search term
BLOG: Good news for secondary debt markets in interest withholding tax case before UK Upper Tribunal HMRC v Burlington Loan Management DAC is an important decision for the smooth running of secondary debt markets. It is also a helpful precedent for tax authorities, taxpayers and tax advisers alike as they spend more time in the future considering when an...
Competition & Regulatory Newsletter: DMCC Act receives Royal Assent On 24 May 2024, the long-awaited Digital Markets, Competition and Consumers Act 2024 received Royal Assent. The Act introduces sweeping reforms to UK competition law and consumer protection. It creates a new ex-ante regulatory regime aimed at increasing...
New UK securitisation regulations - Edinburgh reforms In this Article, Louis Kriechbaum discusses the new UK Securitisation Regulations and the Edinburgh Reforms. HM’s Treasury, the Prudential Regulation Authority (“PRA”) and the Financial Conduction Authority (“FCA”) have each...
First time originator's guide to securitisation - June 2024 In this Article, Peaches Stanforth discusses the advantages of securitisation for originators considering it for the first time. Please refer to the updated First Time Originator’s Guide to Securitisation published in November 2024, here...
Securitisation reporting - revisiting the distinction between public and private securitisations In this article we describe the current distinction between private and public securitisations in the EU and UK (which is currently being reviewed by regulators) and the need for changes in the EU and UK to dovetail with one another. Introduction Both...
UK developments: Consumer duty and other current regulatory topics affecting securitised assets Developments in UK financial regulation over the last 18 months have substantially increased the attention which originators, other participants and investors in securitisations of UK retail assets need to give to regulatory risk. Developments in UK...
The new securitisation rules In this briefing, Kate Patane outlines the key take-aways from the two recent policy statements issued by the PRA and FCA on the UK Securitisation Regulations. This article has been updated in March 2025 - please click here to view the latest edition...
Hargreaves in the Court of Appeal: A return to orthodoxy on withholding taxes? The Court of Appeal has dismissed Hargreaves’ appeal against the Upper Tribunal’s decision and determined that tax should have been withheld from interest paid on loans advanced to the group. The judgment provides taxpayers and their advisers...
BLOG: VAT recovery on shares sale: no special rule for fundraising transactions The UK Court of Appeal’s decision in Hotel La Tour has dashed taxpayers’ hopes of being more readily able to recover VAT paid on deal fees in respect of share sales. It is possible that the taxpayer may seek to appeal to the Supreme Court (after all, the...
Last but not least: consultation involvement key to avoiding regulatory divergence in public and private securitisations In this In Practice article Kate Patane considers the growing divergence between EU and UK reporting obligations in public and private securitisations and how detailed feedback can drive internal “change management” processes and encourage the...